QuoteMedia Announces Financial Results for Q1 2017

Published 3:44 PM ET Thu, 11 May 2017
Globe Newswire

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PHOENIX, May 11, 2017 (GLOBE NEWSWIRE) -- QuoteMedia, Inc. (OTCQB:QMCI), a leading provider of market data, financial web content solutions and cloud-based applications, announced financial results for the three months ended March 31, 2017. These results reflect first quarter revenue of $2,288,453, up from $2,168,866 in the comparative period in 2016, an increase of $119,587 (6%).

“We are pleased with the revenue growth we are now experiencing,” says CEO Keith Guelpa. “We are seeing a growing demand for all product lines, and particularly for our QMod line of responsive, SEO-friendly HTML5 market data widgets, and for our enterprise deployments of the Quotestream line of financial data applications."

“Throughout 2017 we will continue our development efforts, expand our product lines and broaden our data coverage, including significantly increasing our coverage of international markets. We are moving forward with several promising new partnerships and opportunities, and we are expecting to see continued revenue growth for the remainder of 2017.”

Statements about QuoteMedia's future expectations, including future revenue, earnings, and transactions, as well as all other statements in the press release other than historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. QuoteMedia intends that such forward-looking statements be subject to the safe harbors created thereby. These statements involve risks and uncertainties that are identified from time to time in the Company's SEC reports and filings, and are subject to change at any time. QuoteMedia's actual results and other corporate developments could differ materially from that which has been anticipated in such statements.